Link REIT Announces New Round Of Tenant Support Scheme
February 24, 2022 – Link Real Estate Investment Trust said it is assessing the latest impact of the epidemic with a view to expanding its support for its tenants in Hong Kong.
Link has been running a $120 million tenant support scheme in the city since early February this year.
Link has been offering rental concessions to tenants in the specified sectors which were closed for business under the Government’s epidemic control measures that have been in place since the Lunar New Year, such as restaurants and beauty and hair parlours. Link’s leasing team has also been in close contact with tenants of other sectors, collecting their sales data from last December with a view to offer support to those in need.
Rental concessions and other targeted relief measures are offered on a case-by-case basis, rather than across-the-board, to reflect the varying degree of the pandemic’s impact on different tenants. These relief measures include allowing rent payment by instalments, waiving late payment interests and service charges, lease restructuring, granting rent-free periods, and so forth.
Nicholas Allen, Link’s Chairman of the Board, said:
“The fifth wave of the pandemic has brought unprecedented challenges to Hong Kong, the home of Link. We have a fundamental commitment to Hong Kong and to working with our stakeholders to ride through the trying times. Echoing the Government’s call to fight against the epidemic in unity, we have been mobilising resources to ensure our tenants are supported and shoppers are satisfied with their daily necessity needs.”
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